By Arian Towfigh Nia
@redlineproject
Chicago’s cost of living has seen notable increases between 2023 and 2025, according to an analysis of housing and labor data.
The data in the infographic above highlights three vital indicators of the rising cost of living in Chicago: the percentage increase in worker pay, the average rent for each year and the average CPI rent index. The three measurements show how living expenses have risen in Chicago from 2023 to 2025.
With worker pay, the U.S. Bureau of Labor Statistics reported a 4.1 percent increase in 2023. Growth slowed to 3.6 percent in 2024, then slightly rose to 3.8 percent in 2025. This is quite concerning, as the percentage remains low from year to year. Although workers are earning more money, it is not enough to keep up with Chicago’s cost of living.
In contrast, the average rent in Chicago has seen significant increases. According to Refin, the average rent in 2023 was $2,177. By 2024, we can see a slight increase to $2,209 before reaching $2,370, a 7.29% increase in that year.
Finally, the CPI rent index clearly indicates a rise. According to the Federal Reserve Bank of St. Louis, the index started with 402 in 2023, which still looks reasonable. However, by 2024, there’s a 22-point increase, bringing the index to 424. Then, in 2025, the CPI rent index is 444, up 20 points from 424. This shows us that the CPI rent index likely won’t recover anytime soon.